The Jewelry District

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates share their reactions to the 2024 JCK show, including their impressions of the states of the diamond and lab-grown diamond sectors, takeaways from the De Beers breakfast, their experiences interviewing Botswana President Mokgweetsi Masisi, and how important it is for producer countries to have a presence at the show. Victoria talks about what she saw and learned from her press trip touring diamond factories in Surat, India with Ben Bridge. Sponsored by Tracr: tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates share interviews they captured live from the JCK 2024 show floor, including Jan Patrick Smith, CEO of John Hardy; David Kellie, CEO of the Natural Diamond Council; Gina Fahnestock, Senior Associate of Responsible Sourcing and Sustainability at Brilliant Earth; Wesley Tucker, CEO of Tracr; Marie Claire Daveu, Chief Sustainability Officer of Kering; and Susan Jaques, President and CEO of GIA. Sponsored by Tracr: tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates react to Watches of Switzerland’s recent acquisition of Roberto Coin Inc. As the hosts discuss the slow growth of brands in the jewelry space, Victoria gives the fascinating backstory on Shinola’s Gomelsky watch as an illustration of the challenges of launching a new brand. Victoria covers the exciting activations to look out for on the JCK show floor, all in the name of love—this year’s JCK theme. Both hosts also run down the education sessions that you won’t want to miss this year. Sponsored by Tracr: tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates welcome one of the most influential guests ever to join the podcast—Al Cook, CEO of De Beers Group. Al shares his back story, comments on the current state of the diamond industry, and sheds light on the future of the diamond business in Botswana as well as what lies ahead for the lab grown market. Sponsored by Tracr: Tracr.com Sponsored by Tracr: Tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates share news from their recent trips to Geneva and Austin to attend key industry conferences. At Watches & Wonders, Victoria noted a trend toward red and burgundy watch accents, along with a preponderance of derivative designs rather than radical innovations. She and Rob theorize on the reason for the trend. At a well-attended AGS Conclave, lab-grown diamonds and gold prices were hot topics, and Rob got a fascinating behind-the-scenes tour of a local boutique lab-grown producer. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with forecasting expert Nancy Leach, co-founder of the consulting firm Gemedge Studio, which helps companies develop strategy and initiatives to drive business growth. Sponsored by De Beers: institute.debeers.com

The hosts discuss a Ukrainian designer's account of war in her country, the issues with Russian diamond sanctions, and salute retiring Jewelers' Security Alliance president John Kennedy. Presenting sponsor: De Beers (institute.debeers.com) Sponsor: Nivoda (nivoda.com/jdpodcast)

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates speak with Jean-Claude Biver, president of JC Biver and a living legend of the watch world. He regales the hosts on his introduction to the industry 50 years ago; his time at Audemars Piguet; how he revived the historic brand Blancpain; his time running Hublot; and how he brought pizazz to Omega with help from Cindy Crawford and James Bond. He also reflects on how all those experiences are shaping what he and his son are doing at his new venture, the luxury watch brand, JC Biver. Presenting sponsor: De Beers (institute.debeers.com) Sponsor: Nivoda (nivoda.com/jdpodcast)

Rob Bates and Victoria Gomelsky talk about Russian diamond sanctions, news from Tucson, and a blogger’s mysterious Instagram suspension. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Vanessa Fernández, designer, bench jeweler, and owner of Vanessa Fernández Studio. Sponsored by De Beers: institute.debeers.com

Rob Bates and Victoria Gomelsky talk about a Platinum Guild press trip to Miami, the increasing need for lab-grown diamond detection tools and protocol, and what’s in store at the Tucson gem shows. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Stanley Zale, Principal Consultant at Hill & Company and grandson of Zale Corporation founder M.B. Zale. Sponsored by De Beers: institute.debeers.com

Today, Rob Bates and Victoria Gomelsky talk about 2024 predictions, Russian diamond sanctions, and the year in the watch world. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Tom Chatham, chairman of the board of Chatham Created Gems. Sponsored by De Beers: institute.debeers.com

Victoria Gomelsky and Rob Bates discuss highlights from an event-packed NYC Jewelry Week. These include a jewelry collective working with artisanal gold miners in Peru, a panel of Indigenous designers channeling cultural traditions into their work, and a Stephanie Gottlieb partnership with De Beers spotlighting diamond provenance. Rob weighs in on whether the Black Friday boom will prove a bellwether for holiday sales then turns the conversation to WWF Switzerland’s annual report on sustainability in the watch and jewelry industry. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates speak with Olga Oleksenko, founder of the Strong&Precious Art Foundation, which showcases Ukrainian jewelry art and design. Sponsored by De Beers: institute.debeers.com

Today, Rob Bates and Victoria Gomelsky talk about Victoria’s trip to Istanbul, WD Diamonds, and the history of sustainability in the watch industry. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates welcome Edahn Golan, diamond industry analyst as well as owner and manager of Edahn Golan Diamond Research and Data and managing partner of Tenoris. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates pay tribute to former JCK editor Hedda Schupak, who passed away this month. An industry icon as well as a mentor to Victoria and Rob, Hedda steered the magazine successfully through major changes in the early 2000s and played a key role in the early days of its annual Las Vegas trade show. Rob updates listeners on the latest news in Russian diamond sanctions, and Victoria shares highlights from her recent trip to Japan to visit Grand Seiko’s studio in the mountain town Shizukuishi. Sponsored by De Beers: institute.debeers.com

Victoria Gomelsky and Rob Bates interview Monica Stephenson, founder and president of ANZA Gems. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates delve into hot topics from the world of luxury watches, starting with Rolex’s recent acquisition of Bucherer and its potential implications for retailers. Next the conversation turns to Audemars Piguet’s latest AP House. Finally, Rob shares some encouraging news about a flurry of brick-and-mortar retail openings this year and dishes on the newest installment in his Diamond District mystery book series. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates interview acclaimed designer New York designer Lorraine West, whose handcrafted contemporary fine jewelry has earned the admiration of Grammy winners and Hollywood A listers—not to mention Sotheby’s and De Beers. Lorraine recounts the early days of selling her designs on the street in Soho, the bold moves that helped launch her successful career and convinced a music icon to become an early supporter, the unexpected gift she still treasures, and the art of giving back. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates dive into the hottest trends ahead, from more Barbie-fueled obsession with pink to nostalgic necklaces. (Think Rubik’s Cubes, robots, and all things ’80s.) Equally newsworthy is the luxury world’s laser focus on bigger, better brick and mortar—a high-end land grab that belies the digital-first future predicted during the pandemic. Finally, some of the world’s most elite watch brands are tuning in to hip-hop, EDM, and both genres’ massive hype-building power.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates sit down with Jeffrey Post, research associate and curator emeritus, to hear where his love for minerology began. Jeffrey describes a visitor’s experience to the Smithsonian’s National Museum of Natural History as well as some of the stories attached to the gems he has encountered over the course of his 32 years as its curator of gems and minerals (including a once-in-a-lifetime chance to study the famous Hope and Wittelsbach Graff diamonds side-by-side).

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss Victoria’s recent custom ring experience, the State of the Art Jewelry Summit, and commemorate the 100th episode of The Jewelry District.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates sit down with Jeffery Bolling of Colorado-based Jeffery B. Jewelers about his journey from serving in the U.S. Army to selling diamonds to becoming Colorado’s only African American–owned fine diamond, full-service jeweler.

Just back from JCK Las Vegas, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates recap highlights from the big event, where they were delighted to see a return to the liveliness of pre-COVID shows. Diamond trends were a hot topic among attendees and exhibitors, so Victoria and Rob delve into a range of buzzworthy diamond-related observations from Vegas. Among them: Lightbox’s foray into lab-grown engagement rings and how intensifying focus on the three P’s (provenance, people, and planet) is reshaping the industry. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates sit down with Jeffery Fowler, CEO of the influential watch website Hodinkee to learn how the company got its unusual name and to hear about the path that led him to it. Jeff also speculates on the reason mechanical watches inspire such lasting passion (they’re science projects wrapped in history projects wrapped in art projects), offers predictions for the booming pre-owned watch market, and explains why good retailers are the best brand ambassadors.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates recap highlights from Tiffany & Co.’s star-studded party to mark the reopening of the Fifth Avenue flagship store, where a once homey vibe has been replaced by a sleek temple to luxury. Rob shares an update from AGS Conclave along with insights about the trending topic of ChatGPT and its potential for the industry. Finally, the two compare notes on which events they’re most excited to check out at JCK Las Vegas.

Victoria Gomelsky and Rob Bates catch up with Lawrence Hess, executive director of The Plumb Club, as the organization finalizes plans for JCK Las Vegas.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss the much-anticipated reopening of Tiffany & Co.’s iconic Fifth Avenue store, now called The Landmark. Victoria also reports on her recent trip to Geneva for Watches and Wonders, where traffic was brisk, the mood was upbeat, and Rolex wowed the crowds with unexpected splashes of color and whimsy. Rob updates listeners on what’s new at Signet Jewelers after attending a recent Investors’ Day at the New York Stock Exchange.Sponsored by De Beers: institute.debeers.comShow Notes00:49: Tiffany & Co. Reimagines its Famous Flagship05:30: Rob Heads to AGS Conclave to Gauge the State of the Industry07:10: Rolex Brightens a Busy Watches and Wonders Exhibition15:18: What’s New at Signet Jewelers Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: @jckmagazine; institute.debeers.com Show Recap Tiffany Offers a Sneak Peek at its Reimagined FlagshipVictoria seldom flies across the country to attend a party, but she’s making an exception for the much-anticipated reopening of Tiffany & Co.’s Fifth Avenue flagship store on May 27th. After a three-year closure and a complete makeover, what will The Landmark—as it’s now called—look like? Rob remembers visiting the iconic store as a JCK mystery and being surprised to find it warmly welcoming. It was almost homey in those days, he says. Victoria predicts the new iteration will be decidedly sleeker and more luxe since the brand’s target demographic is now considerably more affluent. “There’s a parallel story about the importance of brick-and-mortar,” Victoria observes. When she interviewed Tiffany CEO Anthony Ledru recently, he called The Landmark “the heart and soul of Tiffany.” The company is putting a major focus on its physical stores, expanding and renovating flagships in Seoul, Sao Paolo, and other parts of the world, she adds. When the pandemic reached its zenith, it looked like the future might be entirely virtual and digital, but “that’s not the case at all,” Victoria says. “The importance of brick and mortar is more apparent than ever.” Rob to Moderate Conclave PanelVictoria’s not the only one with travel plans. In early May Rob will head to Louisville, Kentucky, for the American Gem Society’s Conclave event, where he’ll moderate an expert panel on how the industry is faring in 2023 and gauge the outlook for the future. Victoria is eager to hear his takeaways. She predicts JCK’s audience will be too. “It’s been a confusing year, with the lingering specter of recession,” she points out. “People are waiting for some guidance.” Rolex Brightens a Busy Watches and WondersThe conversation shifts to Victoria’s recent trip to Switzerland for Watches and Wonders in Geneva. This year’s bustling conference was a far cry from the quiet show of 2022, when quarantine kept Chinese buyers, retailers, and press away. “It felt upbeat and buzzy” in spite of the logistical frustrations inevitable in a crowded convention center, she says. The optimism surprised Victoria, who expected the drop in secondary watch prices after last spring’s crypto collapse to put a damper on people’s moods. Instead she found an enthusiastic crowd and a robust array of new offerings. The most talked-about were whimsical, colorful watches from Rolex, a new direction for the brand. One featured a Celebration Dial with balloons in a rainbow of colors. Another was an off-catalogue model with 31 emojis and seven inspirational words like “love” and “faith” instead of dates and days of the week. Victoria says this is the first time she has seem Rolex introduce a concept piece and, despite some hate from internet trolls, show attendees loved the fresh, vivid newcomers. She gives the company kudos for introducing innovative offerings that break through some sameness in the category. Rob asks about Rolex’s recently introduced Certified Pre-Owned Programme. Victoria says people still aren’t sure how it will work, but she thinks secondhand dealers are likely diversifying and refocusing on other brands because they may not be able to compete with Rolex’s proprietary program. Signet Focuses on Affordable LuxuryTurning their attention back to the U.S., Rob reports on the Signet Jewelers’ Investor Day he recently attended at the New York Stock Exchange. He was impressed by the executive team—and the fact that the majority of its members are female. “Five years ago it would have been all men and one woman,” he notes. “It’s a very different company than before Gina Drosos took the helm” and one he believes is in very capable hands. Signet is focusing on expanding its accessible luxury offerings, though Victoria notes that the term is highly subjective. We all define “affordable” differently. In Signet’s case, Rob expects it will mean higher price points. The company also plans to expand its bridal offerings and to attract female shoppers, a goal that may pose challenges for traditionally male-focused

Victoria Gomelsky and Rob Bates talk with two guests who are a married couple: Feriel Zerouki, Senior Vice President of Corporate Affairs at De Beers Group, and Mahiar Borhanjoo, CEO of UNI Diamonds.

Rob Bates and Victoria Gomelsky talk 24 Karat Weekend, Russian diamonds, lab-grown diamond quality issues, and recent events with banks.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Tom Nolan, CEO of Kendra Scott, a billion-dollar brand with a legendary origin story that started with a single mom selling her designs door to door. Tom recounts his own unlikely path to Kendra Scott and shares the inside scoop on the company’s formula for connecting with customers by creating emotional experiences. He offers a look at the 130-store chain’s successful growth strategy, its formula for weathering hard times, and a few clues about what’s ahead for the Texas-based powerhouse.

What was hot at the Tucson gem shows, diamond supplier news, and Chat GPT. Any views expressed in this podcast do not reflect the opinion of JCK, its management, or its advertisers.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Malyia McNaughton, founder of Made by Malyia. The self-taught jewelry designer and Black in Jewelry Coalition board member is proof that trusting your gut can be the key to creative success. When Malyia couldn’t find the jewelry she wanted, she designed her own—and wore it. Demand for her designs inspired her to launch her brand and has made her a rising star whose looks have been worn by Lizzo and other celebrities.Sponsored by De Beers: diamondeducation.debeers.comShow Notes1:53 From body chain to brand launch5:09 Expanding organically8:04 Turning obstacles into opportunities10:53 Finding creative inspiration13:57 High-profile partnerships17:58 In the spotlight on SNL20:51 The Black in Jewelry Coalition: making a difference23:52 Tips for aspiring designersEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com; @jckmagazine; madebymalyia.com; diamondeducation.debeers.com [Use promo code JCKPRO_15 at checkout for 15% off workshops.]Show RecapFrom body chain to brand launchVictoria introduces Brooklyn-based designer Malyia McNaughton, founder of Made by Malyia, and asks how she started creating jewelry. The daughter of Jamaican immigrants was born in the Bronx, raised in Florida, and attended Florida State University, where she studied fashion merchandising and product development. After graduating, she moved back to New York to pursue a career in fashion, starting in sales and product development for Nicole Miller and eventually designing for another fashion brand.In 2014, Malyia had tickets to a music festival in Philadelphia. She wanted to make a statement by wearing a body chain but couldn’t find the right piece. Undeterred, she sourced materials and designed her own. Little did she dream she was making her first item of jewelry. “I got stopped by so many people asking me where I’d gotten it,” Malyia recalls. “After the fifth or sixth person, my friends said, ‘You might be onto something.’ We went to lunch, and they helped me come up with the name Made by Malyia.’ It was one of those Oprah aha moments.”Expanding organicallyAfter months of trial and error, Malyia developed a body chain she felt was ready to put on Etsy. To her delight, orders poured in. Still, she viewed Made by Malyia as a creative outlet, not a business. Gradually she added products based on buyers’ feedback. When a client asked if she could make a temporary nose ring, Malyia branched into nonpermanent nose and body jewelry. Next someone asked for a ring. “It started to expand very organically,” she says. Eventually, growing demand persuaded her to build a collection and a website.“Etsy was a great launching pad,” she says. “I credit my customers [there] for amplifying my voice and bringing me to market.” Though she has moved away from the platform, she hopes to do another Etsy-specific collection.Turning obstacles into opportunitiesRob asks what challenges Malyia faced as a newcomer to the industry. She points out that the jewelry business is famously generational. While those family bonds are admirable and she hopes to build her own legacy, they have a downside: They create a major entry barrier for self-taught designers of color and anyone else who lacks personal connections.Malyia turned the disadvantage into an advantage. As a newcomer, she felt less pressure to put out product than established insiders might. This freed her up to focus intensely on design. She is very intentional in the projects she takes on, releasing small, effective capsule collections that will sell through.Finding creative inspirationMalyia has said her work celebrates the intersection of art, nature, and culture. Victoria wonders how this translates into her creative process. The designer starts by placing raw materials in her workspace and spending a week surrounded by them. She also immerses herself in nature, drawing particular inspiration from the movement of water. Sometimes weeks go by before an idea strikes her—then ideas come fast and furious, and she finds herself making 100 sketches in a row. Her rough sketches go up on the wall, where she can study and tweak them. Next she engineers her designs to ensure they’re structurally sound before sending them to her CAD designer to see what they look like in 3D. “It’s a pretty unique process, but I’ve learned to embrace it,” she says.On her inspiration board, Malyia keeps an old magazine article about Monique Péan that she clipped when Made by Malyia was taking root. “She really is a trailblazer,” says Malyia. Other role models include Sheryl Jones, “a phenomenal designer” and personal mentor, as well as Elsa Peretti. She feels a kinship with the late Peretti because, like Malyia, the designer saw herself as an artist.High-profile partnershipsVictoria points out that Malyia has done quite a few well-publicized collaborations despite being relatively new to the industry and ask

Join JCK editor-in-chief Victoria Gomelsky and news director Rob Bates for a roundup of buzzworthy industry updates. Victoria reports on the recent VicenzaOro fair, where the halls were crowded, the mood upbeat, and the looks big and bold. She updates listeners on a rare timepiece collection from the archives of Jaeger-LeCoultre. It’s the first significant effort by a Swiss watchmaker to sell vintage pieces and may herald a burgeoning trend. Rob analyzes what Israeli equipment maker Sarine’s purchase of the family-owned lab GCAL means for the future of diamond grading—and artificial intelligence’s growing role in it. Finally, the two discuss the Federal Trade Commission’s proposed ban on noncompete clauses.Sponsored by De Beers: institute.debeers.comShow Notes2:22 A lively January VicenzaOro fair7:21 Jaeger-LeCoultre unveils first vintage watch collection12:22 What Sarine’s purchase of GCAL means for the future of diamond grading18:09 The FTC’s move to ban noncompete clausesEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: @jckmagazine; institute.debeers.comShow RecapViva VicenzaOroJust back from Italy’s January VicenzaOro goldsmith and jewelry fair, Victoria says she was delighted to find the show packed and the mood optimistic. She had expected inflation, the war in Ukraine, and fear of recession to trigger cautiousness and a comedown from the boom the industry has enjoyed since the pandemic started. However, this was the best-attended VicenzaOro ever in terms of both exhibitors and attendees. Victoria spent most of her time in the crowded hall where Roberto Coin, Damiani, Fope, and other luxury brands that export to the United States were exhibiting. Also bustling was the adjacent T.Gold show, featuring jewelry machinery and technology for everything from engraving to laser welding.Victoria is still amassing information on the show’s top sellers, but one trend is certain: Big, bold pieces are replacing the small, delicate ones favored during quarantine. Understated jewelry suited people well when they were working from home, she says, but now subtle looks (such as stacking multiple delicate bracelets on the wrist) are making way for powerful statement pieces—especially cuffs and collar necklaces.Jaeger-LeCoultre Unveils Vintage CollectionVictoria’s recent European trip included a visit to Geneva to learn about Jaeger-LeCoultre’s first-ever vintage watch collection. She explains that the Swiss company is known as the watchmaker’s watchmaker. The brand has made all of its timepieces in its own workshops in the Vallée de Joux since its foundation in 1833, and Jaeger-LeCoultre calibers and movements have powered many other brands’ watches over the years. Now Jaeger-LeCoultre has mined its own rich history to create The Collectibles, 17 models from its archives produced between 1925 and 1974. Each reflects a watchmaking innovation from the 20th century. Twelve of these models were sourced from auction houses and vintage dealers and are available for purchase. Included are the Reverso, the company’s best-known model, and several interesting watches from the 1950s and 1960s, according to Victoria. The Collectibles is an evolving collection, so the models will remain the same, but different editions may be introduced along with new capsules, she says.This is the first time Victoria has seen a Swiss watchmaker invest such effort into selling vintage pieces rather than new models. She likens it to Rolex’s Certified Pre-Owned program and points out the advantage of having such treasures returned to the workshops where they were created to be fine-tuned with the very tools and components that were used to build them. How will other brands respond? Victoria is eager to find out. She predicts that we’re on the brink of a new era of modern-day Swiss watchmakers taking much more care with vintage pieces that have potential to be resold.Sarine Acquires GCALIn other news, Rob reports that Israeli equipment manufacturer Sarine has bought the family-owned diamond-grading lab Gem & Certification Assurance Lab (GCAL). Though GCAL is relatively small, it is widely respected for giving tough grades based on GIA standards and offering a certificate guaranteeing those grades.Rob finds the acquisition intriguing, given that Sarine uses machines that rely on artificial intelligence (AI) to grade diamonds. This allows them to grade gemstones in the factory rather than sending them to a lab, as Rob reported last year. The fact that Sarine is using a well-established lab to roll out its AI approach and promising to honor GCAL’s grading guarantee shows how much confidence they have in the technology, he says. Clearly, Sarine believes its technology can match GCAL’s standards. Rob and Victoria say the acquisition will help the industry get used to the concept of AI grading, a method many labs are exploring. How will AI play out in the industry? That’s anyone’s guess, but Victoria predic

Gearing up for JCK Tucson 2023? Dave shares expert insights on what to expect at the show as well as which stones and colors are trending this year.

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates look ahead into 2023.

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk holiday predictions, the theme of which is cautious optimism. They discuss inflation and its affect (or lack thereof) on spending on jewelry, depending on strata. (The wealth divide is also the dividing line for this consideration.) The hosts also talk about Rolex’s recent announcement that they are entering the preowned watch space, and the questions this brings up about the secondhand marketplace. They also note a slowing down in the colored diamond market.Show Notes01:30 Educated guesses about the holiday season03:40 Inflation concerns09:15 Rolex launches certified pre-owned program19:30 Colored diamond category slows downEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: @jckmagazine, jckonline.comShow RecapModerate Hopes for the HolidaysAs they look ahead and talk about the holidays. When Victoria spoke to Abe Sherman at Buyers Intelligence Group (BIG) who said, “I’ll tell you in ten days.” For jewelers, things don’t come into focus until the very last moment. They suspect this holiday won’t be as strong as last year. Most of those who Rob has spoken to think that even if it is a few points lower than last year, they could still characterize this year’s holiday sales as a success.When Signet announced their results, Gina Drosos gave the reasoning that last year, many did their shopping early because of supply chain worries. This year, that doesn’t seem to be the case. October had been down, but things are picking up closer to the holiday. The last two years are such a high base. People don’t necessarily expect those levels to continue, but still hope for a successful year.Effects of InflationThough inflation has calmed, it is still higher than we are accustomed to. This affects how the middle class spends on jewelry. Whether it gives the wealthy pause about how they spend, Victoria is not sure. Increasingly, those markets are bifurcated: the upper class does not have to make adjustments to their spending the way the middle and lower-income shoppers do when economic concerns come up.The pattern of the last several years has been gains on the higher end and not as much on the lower and middle. During the pandemic, there were gains across the board. Now, we’re going back to the pre-pandemic pattern. Signet has noted that the gains they are seeing are at the high end, or “accessible luxury.”Something jewelers learned during the pandemic was to up their digital game. Rob has noticed a lot of jewelers putting out interesting content on TikTok. This is the way of the future when it comes to reaching buyers. Jewelers have also used YouTube to tell their store’s story in an appealing way. Rob comments on the organic nature of TikTok. It feels personal. There’s a strange charm to it being just one person with their phone.Rolex Enters the Pre-Owned SpaceOn December 1st, Rolex announced they were formally entering the preowned space. It is launching a program in Europe through Bucherer. Time will tell when it will come to the US. Bucherer is a Swiss retailer that has a presence in the US already through Tourneau, and are established in the secondhand space.A few big questions are, who is setting the pricing, and how will this be received by the market? People in the secondhand watch space think this legitimizes the space and makes it less like the wild west. This will give retailers something to sell, since new Rolexes go out of stock so quickly.How would a trade-in be priced? If people bring their Rolexes to a local dealer, will the dealer verify? Will they give credit or money? People often want to trade their watch in for another piece. Another consideration is who will be repairing the trade-ins? Victoria wonders if Rolex’s service centers will be handling all of these. Bucherer has a lot of pre-owned watches listed on their website, so it’s clear much of this will take place online.Victoria talks about the Audemars Piguet trial of a preowned market. They never rolled it out fully, and didn’t respond to her call to comment on it. Other big brands haven’t commented either. Big brands have been doing well selling new watches, so they may not prioritize the pre-owned market right now.There’s a large community of watch collectors who are cynical about Rolex entering this market. They think you have to buy lower quality preowned pieces before being considered for the higher quality goods. Rob asks if people think Rolexes will be dominant in the secondhand category. Rolex dominates every market it is in. Authorized dealers have been reluctant to comment. Interesting to see how much power one brand can wield.Colored Diamonds Left BehindResults had been stellar for colored diamonds at auction, and now things are taking a downward turn. De Beers put out a collection of eight blue diamonds. A few failed to sell, a few were pulled from auction, and so far, none have sold. There’s a slowing down

Victoria Gomelsky and Rob Bates talk with jewelry historian and author Marion Fasel, founder and editorial director of the website The Adventurine.

Victoria Gomelsky and Rob Bates discuss Victoria’s recent trip to Sicily to see Jacob & Co.’s new Opera Godfather 50th Anniversary watch; they explore the growing power of brand names in high jewelry; Victoria breaks down how changing legislation may create more transparency on sourcing; Finally, Rob shares what recent research by WJA and Citizen Watch revealed about Gen Z.

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk to Paul Schneider, co-owner of Twist, an independent jewelry business known for being an incubator for cutting-edge design talent. Victoria heard Paul Schneider speak at the “Conversations in Park City” event and was struck by how authentic he was and interested in the information he delivered about how his business is growing, and so was inspired to have him on. Paul talks about his wife's and his origins in the crafts movement, how they made their way into the jewelry industry, how they showcase designers' voices, and overcome obstacles.Show Notes01:50 Guest intro, Paul Schneider03:20 Paul talks about his background as a craftsman04:20 When jewelry entered the conversation08:40 Growing and shaping the business14:10 Lab-grown diamonds16:20 Paul talks video content20:50 Advice for overcoming challengesEpisode CreditsHosts: Rob Bates and Victoria GomelskyGuest: Paul SchneiderProducer and engineer: Natalie ChometPlugs: @jckmagazine, jckonline.com, TwistShow RecapPaul’s BackgroundPaul and his wife Lauren Eulau met in college and were part of the crafts movement. He was a potter and she was a weaver. When did jewelry enter the conversation? Paul isn’t a big planner. His wife’s and his careers have grown by going with the flow. He tells an anecdote about an accountant who asks what their goals are. They decided they needed a different accountant! He doesn’t necessarily recommend this approach, but they’ve been industrious. New doors open up because they never had a commitment to any one path. It ended up working for them.“Our commitment was to beautiful objects” made by themselves or friends. They met someone who made porcelain earrings. They put them in their store because they were ceramic. It sold amazingly well. This underlined that people bought jewelry because it had deeper meaning—it was more personal. They started out only selling ceramic jewelry. Then they researched and branched out to other materials. They redefined their limits into something more broad. They were still craftspeople. They just included jewelers who used other materials. Their evolution was very slow, but it allowed them to learn as they went.Branching Out and Narrowing DownThey branched out from Eugene to Portland. There couldn’t be two businesses like theirs in Eugene. They needed to go to a bigger city. They decided something had to give after they had a baby. They decided to stop making things and just sell. Twist is known for being an incubator for cutting edge, coveted designers. How’d they get there? His wife’s and Paul’s tastes are very different, but they respect each other’s tastes. It is easy for them to find pieces. They have such good communication skills that it doesn’t take a lot of discussion for them to make those choices.Pacific Northwest IdentityIs Paul’s business uniquely suited for Portland or could it work elsewhere? The type of business could work somewhere else, but the kind of products they sell are a result of the Pacific Northwest lifestyle. It’s not showy. You’d be ridiculed for wearing a large diamond. There’s an appreciation for craftsmanship and quality. Their particular pieces might not work in other places, but their approach does.They are always looking for new designers and pieces. Though they don’t often sell items that come in unsolicited, but he does address every inquiry. He feels responsible to do that. Their origins are with people who make things for a living. They support people who are doing things that are beautiful and do not have access to the marketplace. They are looking for originators, not second generation.Lab-Grown DiamondsThey offered lab-grown diamonds a few years ago when it was a new development. They have plans to do a collection based on that with specific lab-grown diamond producer. Paul thinks it’s a clear direction the industry is moving in. The line will be ready soon.Bringing Designers to the ConsumerVictoria asks about the videos they do. The videos are all about the designers and the stories they are telling. Their daughter makes the videos. The videos are always in the designers’ words. Consumers can look at the video and through them, have a two-minute visit with the designer. It adds to the impact and experience. You can understand what’s going on in the pieces. Twist also has QR codes in the cases that bring up the video.Through the videos, their daughter has gotten more involved in the jewelry world. Now she works at a jewelry consultant in NY. Is it hard to “turn it off” as a family business? There’s no separation. It’s just life. Paul finds that it clarifies and simplifies family relationships. They are all on the same team, whether it’s family or work.Overcoming ObstaclesTwist is hiring and has been getting a higher quality of applicant recently. Paul thinks the hiring market is starting to calm down. They employ 25 people, including 5 people on the website, and retail staff. They

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk about Conversations in Park City, a new De Beers CEO, and a new spin on a classic Patek Philippe watch. Victoria recaps her time in Park City, where she contemplated the present and future of retail with experts curated by PSFK. Rob reports on the change in leadership at De Beers, where Bruce Cleaver has stepped down and become co-chairman, and Al Cook will step into his shoes as CEO. Victoria covers the latest iteration of a popular Nautilus and what it means for the direction of the Patek Philippe brand.Show Notes01:00 Victoria interviewed the president of Bulgari who was in the Maldives.04:30 A recap of Conversations in Park City09:00 A change in leadership at De Beers19:55 New Patek Philippe watchEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: @jckmagazine, jckonline.com Show RecapHospitality Meets JewelryVictoria got up early to speak to the president of Bvlgari, Daniel Paltridge, who was in the Maldives at the time. They talk about the Bvlgari hotel and how expensive it is—€2,500 per night! Rob wonders what guests might get in addition to the room for that price. (Likely not jewelry.) There are other examples of brands that cross over from fashion to hospitality—Armani, Shinola, etc. The hope is that you can capture an audience in one and then target them in the other side of the business.Conversations with Friends—in Park CityVictoria recently traveled to Park City, UT, to Conversations in Park City, the leadership summit hosted by Jewelers Mutual. The brainchild of Mark Smelzer, head of content for Jewelers Mutual (and JCK’s former publisher). He had a vision to pull together the crème de la crème of the industry and bringing them all to a leadership retreat. Everyone met at the St. Regis in Deer Valley, with their loved ones in tow. Victoria brought her family and enjoyed the wonderful weather.But the main focus was the content. Mark pulled in one of the leading thinkers on retail strategy and futurism, PSFK. Jeff Weiner of PSFK brought in some experts that they’ve used for their presentations—on the omnichannel experience, “phigital” retail, and other things retailers need to be prepared for. It was both present- and future-focused, informing retailers about shifts in the consumer atmosphere. Though Victoria tends to tune out when people talk about NFTs, she found this coverage easier to digest. It was a beautiful setting for some great conversations. Overall, the event was brief and meaningful. She hopes there will be another one next year.A Change in Leadership for De BeersRob reports that Bruce Cleaver is stepping down as CEO of De Beers and handing over the reins to Al Cook—an industry outsider who worked for an energy company. His predecessor, Philippe Mellier, was also an outsider. He got great results for the bottom line of the company, but injured some relationships with clients who felt he drove prices too high. Bruce repaired that relationship, and is well-respected. Though it’s not clear why he is leaving this position, he will still be involved as co-chairman. It’s a job where you’re never bored because there are so many aspects to it.Victoria wonders about the selection process. She points out that the new CEO is another European white man. Was anyone from their stakeholder countries considered? Some people have pointed out that De Beers is an African company that caters to women, yet all of its CEOs have been white men. People have comment that Al Cook doesn’t have the background on marketing, branding, etc. An outsider will have to be tutored in the varied aspects of the business. It’s also of note that Bruce is leaving without a contract with Botswana. A rough agreement has been drafted, but not signed yet. De Beers’ portfolio has been diversified by lab-grown, which might give them some leverage.The Lab-Grown Diamond TrajectoryIt’s been four years since Lightbox came out. Lab-grown is such a complicated market. Many still don’t accept it as a viable category. Swarovski is rolling out lab-grown as well. Breitling has just announced they’re starting to use lab-grown diamonds and fully traceable gold. This is more transparent than Victoria has seen a Swiss brand be. It’s clear that lab-grown is going to be part of the conversation going forward.New Patek Philippe Watch Speaking of watches! Victoria wrote an NYT piece about a Patek Philippe watch using white gold that might “break the horological internet.” The long-awaited successor to the 5711—a hyped but discontinued watch model— is here. Called the 5811, its main difference is that it’s in white gold instead of steel. A Nautilus that has been around since 1976, Victoria is confident it will be popular. It’s close to people’s hearts, and has always been in steel until now. They’re breaking away from the steel sport models that fetch more than the gold models.They went to the prestige category. What the

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates interview two guests—Vikki Tobak author of Ice Cold: A Hip-Hop Jewelry History, and Jules Kim, owner and designer of Bijules Jewelry. They discuss how both women came up in the New York City club culture scene, and how it influenced both of their careers. Vikki talks about the early days of hip-hop and how its connection to jewelry began and evolved. Jules notes some jewelry styles that have their origins in African and African American culture, and the beauty of their evolution through time.Show Notes02:30 The hosts introduce their guests, Vikki Tobak and Jules Kim03:05 Vikki shares her background and interest in jewelry and hip-hop07:40 Jules goes into her background15:20 Vikki talks about why the hip-hop world got interested in jewelry19:00 Jules describes grill culture and how it evolved from its humble origins23:45 Vikki’s favorite quotes and moments from her bookEpisode CreditsHosts: Rob Bates and Victoria GomelskyGuests: Jules Kim, Vikki TobakProducer and engineer: Natalie ChometPlugs: jckonline.com @jckmagazine, Bijules, Ice Cold: A Hip-Hop Jewelry HistoryShow RecapThe Intersection of Hip-Hop and JewelryVikki is a longtime journalist and curator. Both of the books she has written so far have been focused on hip-hop. She was an immigrant kid in Detroit, rooted in a city that was founded on music culture. She fell in love with hip-hop as a kid in the 90s, and moved to New York, during an immersive time of music and club culture. She started out working for a record label at age 19, then started writing about this culture.The book tells a different angle to the culture, following this through line that’s been a constant throughout Vikki’s whole life. When asked when she started researching this topic, she says, “Informally? Since my mom bought me a Nefertiti pendant when I was living in Detroit in the 1980s.” Formally, she started in the beginning of the pandemic. It was challenging at that time because she couldn’t visit the diamond district or Canal Street, as she would have wanted to do in person. Jewelry is part of the fabric of hip-hop and club culture. You see it reflected in what people are wearing when you walk down the streets of New York.Musical InfluencesMany musicians contributed to Vikki’s book: Slick Rick—known as the don of hip-hop jewelry—wrote the foreword, and LL Cool J contributed an essay about a trip he took to Cote D’Ivoire in 1988 and the African link to hip-hop jewelry; A$AP Ferg, the first hip-hop ambassador for Tiffany. The common thread across these stories is the shared value of success and what we wear on our bodies as being representative of so much more (status, “making it,” being royalty). It’s more than conspicuous consumption. Jewelry is a communication.Jules’ BackgroundJules grew up in Richmond, Virginia. As soon as she and her twin sister could, they moved to New York. They were both DJing and throwing parties. Jules came to the city as a fashion intern and was fascinated with nightlife and the fast-paced, shared communal experience. Jules thinks of jewelry as a “forever material,” and says, “in that time period, I was living a very ephemeral experience, so everything was fleeting.” She assisted other fashion designers by day, and carting vinyl records to parties across town by night. She recognized that this experience didn’t last forever, and she eventually decided she wanted to make something that lasts.She started Bijules in 2002. She wore all her pieces out and sold them at clubs. She was influenced by street fashion and decided to implement the nameplate with graffiti. When asked if she had any training, Jules said no. She went to university on scholarship for flute. She realized formal training wasn’t for her. She studied fashion in France, then came back and took a jewelry 101 class. It inspired her to dedicate herself to learning.Downtown CultureVikki talks about the jewelry scene on Canal Street vs. in the diamond district. It’s cheaper, more playful. The diamond district was this other world that she didn’t have a reason to go to. Hip-hop and club culture is a culture of hustle, which overlaps with jewelry industry. Both are made up of immigrants. Being part of downtown culture was also this way. Vikki describes a “motley crew” that had similar hustle, dreams, and aspirations.Hip-Hop and Jewelry ThenVikki talks about the origins of hip-hop’s interest in jewelry. The young people who were to become the future superstars of the genre looked to the street for their styles. The first instance of jewelry on a hip-hop album cover was Kurtis Blow’s debut album in 1980, and those chains were very tiny and layered with a few pendants. As hip-hop stepped into its power in the ‘90s and more money started coming into the culture, early styles started coming along. That moment quickly led to artists using platinum, diamonds, and other precious materials in their jewelry. Trends included label

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss the Dubai Horology Forum in New York, the Facets 2022 conference in Antwerp, and Victoria’s tour of Cartier’s watchmaking facilities.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Eric Ku, watch “super dealer,” cofounder of Loupe This, and founder of 10 Past Ten and Los Angeles Watchworks. Eric recounts the origin story of when he first started his collection of mechanical watches, the beginnings of watch-collecting on the internet, the evolving relationship between brands and the pre-owned market, and he names a few micro-brands that have yet to get their due.Show Notes02:20 – The hosts introduce Eric Ku04:20 – How Eric came to own his first watches08:10 – The early days of the internet and online watch collecting10:15 – Eric’s main business focuses15:00 – Brands’ relationships with the secondhand market20:45 – How Loupe This got started25:00 – Some great lesser-known watch brands27:30 – Eric’s first watch, “the one that got away”Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: loupethis.com, 10pastten.com, lawatchworks.com, @jckmagazine, JCKonlineShow RecapEric’s Watch Origin StoryEric talks about where his love of watches came from. He subscribed to National Geographic and always noticed the Rolex ad on the back cover. In particular, he has been interested in mechanical watches and the history behind them. While in college at the University of California, Berkeley, Eric didn’t find a lot of others who shared his interest, however.When Eric came into some money playing the stock market in college, it allowed him to buy some of his first nice watches. Soon after, he lost that same fortune the same way he had made it and had to sell them all. In a way, this quickly introduced him to both sides of the watch-selling business.Eric’s first watch? An Omega Speedmaster Automatic with a clear display back. Back when he had purchased it, it cost him $999. At the time, he thought that this price was the benchmark for a “nice” watch. His first vintage watch was a Rolex Red Submariner. He got it in Columbus, Ohio, at an NAWCC (National Association of Watch and Clock Collectors) show. From the beginning, Eric had been drawn to Rolex because of the brand’s tie to feats of human ingenuity dating back to the 1930s.The Watch Market Now and ThenDuring the early days of the internet and internet watch collecting, his friends used to fax pictures of watches to him! It was an active scene. He talked to other collectors online. He looked at other sites to learn about watches. The commercial part of it was at trade shows, not online yet. NAWCC would have a show in Pasadena, Calif., twice a year. He would attend these regional shows, walk around, meet people, and all the trading would happen there.Eric’s Collection of Watch BusinessesWhat are Eric’s main business focuses? He started 10 Past Ten in the early 2000s, which is a website that sells vintage Rolex sport watches. This is one of the segments that is most heavily collected. It started as a part-time job. After a “moment of clarity,” he gave notice at his day job, rented an office, and never looked back.Six years ago, Eric partnered with his friend Beau Goorey and started Los Angeles Watchworks, a repair and restoration business for fine Swiss watches based in Pasadena. They are known for their cosmetic work on watches, preserving the original look and feel while catering to the whims of watch collectors.How does he handle counterfeits? With these fine vintage watches, it’s all in the details. There are specific tiny details that are not always original. With vintage watches, you won’t see a counterfeit that is perfect. It’s harder to replicate watches that are handmade.Brands Embracing the Secondhand MarketThough they used to thumb their noses at it, brands are increasingly embracing the pre-owned market. Eric gives the example of Richemont, which bought Watchfinder (a secondhand watch business on the internet), and they slowly integrated it into their dealer network. They’ll look at trade-in watches and accept a customer’s trade-in as credit toward a new purchase. With new watches, there is a keystone. The margins are thinner for secondhand watches. Eric notes that the lack of availability of some new watches is an interesting factor. It benefits these brands to offer pre-owned watches, so that there is still some inventory.Primary and Secondary Market InterplayVictoria asks about the relationship between the primary and secondary markets. When there’s nothing available in the primary channel, people flood the secondary market with demand, and prices rise to extreme heights. Now that the prices for these hyped watches are going back down in the secondary market, what is Eric seeing in the primary? Does he see a link between the two? Eric has not seen interest in the primary market cooling just yet. Most authorized dealers would likely agree, they continue to have a waiting list for certain models of new watch. He notices that the retail prices of these watches are much lower than their market value.W

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss Signet's acquisition of Blue Nile, what it means for the brand and how they might evolve as a result. Victoria reports on her research into fall's biggest fashion trends, which include animal motifs and a resurgence of the power-dressing era of the 80s and 90s. Show Notes03:00 Signet is acquiring Blue Nile12:00 Victoria reports on the latest in fall fashion19:00 80s and 90s jewelry styles are on trendEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapSignet to Acquire Blue NileBig news in the dog days of August: Signet is acquiring Blue Nile. This is part of Signet's pattern: they keep acquiring the competition. One of the things current management is focused on is growing market shares. And this is the easiest way to accomplish that. However, there are high customer acquisition costs that have to be paid to Google and Facebook. Google, Facebook and other companies like them have gotten so large, it places a burden on other competition because of the high expensive to advertise online. Rob sees this as a troubling sign on a higher level.The deal will likely contribute to the long-term sustainability of Blue Nile's brand. But people worry how many businesses are all consolidated under one large umbrella. Victoria wonders how Blue Nile might evolve under Signet. It's not clear where the brand will fit among the other jewelry brands under Signet now.Victoria recalls the interesting things that Blue Nile has done in recent years: Their 10 by 10 collaboration with De Beers and designers of color, for example. They want to be a brand that speaks to people, not "the Amazon of jewelry."Themes in Fall FashionVictoria has been doing research into the latest fall fashion trends and reporting on them in the JCK Special Report newsletters. Here are a few themes she's been noticing, to help inform what jewelers may want to stock. A surprising but endearing trend gaining steam is animal-inspired jewelry. Though this has been going on for thousands of years, there are times when the motif gains steam. Victoria spoke to an expert on this category: Marion Fasel, jewelry historian and founder and editorial director of The Adventurine. She worked on the Beautiful Creatures exhibit at The American Museum of Natural History. The two animals that come up over and over again, according to Fasel? Snakes and butterflies.Snakes have a beautiful shape that lend themselves to jewelry, which can symbolize wisdom and eternal love. The butterfly has emerged in many jewelry collections this year. Symbolizing rebirth and transformation, it's particularly resonant to people right now as we begin to emerge from the pandemic. Victoria describes some collections she's seen that feature interesting creatures as pendants. In the vintage space, sales of animal-inspired pieces are soaring, as well. The zodiac trend also contributes to the popularity of the animal theme, since many of the symbols of the zodiac are animals as well.80s Jewelry Makes a ComebackThough it might be surprising, jewelry from as recent as the 90s can now technically be considered vintage. And, according to many estate jewelers, the 80s and 90s aesthetic of jewelry is coming back. Part of the reason is because these pieces are coming into the market. But, it's more than that. Victoria explains "the golden 40-year rule." A wave of nostalgia comes over the creators of pop culture and fashion of their childhood as they age. As a result, certain eras of fashion make a comeback after a certain amount of time has passed.Something about the 80s and 90s look is taking hold: Power-dressing, strong female characters, big glamorous bold jewels. That vibe is coming back. Though it might be out of step with the economy, the trend still exists within our current environment. How does it translate to jewelry? Big chains (think: Madonna's pile-on phase), large dramatic hoops, and other big, bold styles. The bold gold look. Even for generations who don't remember the 80s, they are part of our general pop culture, so Gen Z may be drawn to these looks as well. The thing about jewelry trends is they always come back.Other motifs and trends that are coming into their own are turquoise, evil eye, and other protective symbols. A single "wow" piece may start to take the place of dainty layers. When the economy starts to make things go up in price, mixed metals tend to gain more popularity, too. There's a fascinating mix of cool jewelry out there right now, and Victoria hopes people will take advantage of it.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Mark Smelzer, chief content executive of Jewelers Mutual and JCK’s former publisher.Show Notes01:33 The hosts welcome their guest, Mark Smelzer03:30 Mark talks about his background in the jewelry business07:00 Mark recalls his first impressions of the industry10:10 The role of print today13:15 The shift to content marketing19:30 Mark’s prediction on jewelry sales21:20 What can we do better?23:50 How the industry has changedEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jewelersmutual.com, @jckmagazine, jckonline.comShow RecapMark’s BeginningsMark started in magazine ad sales in Los Angeles. He became the publisher of a city magazine called Buzz. When it went under, he moved to Variety—the entertainment trade publication, which is what eventually drew Mark to New York City. After a corporate shake-up at Variety, he was informed that he was the publisher of JCK magazine. Hedda Schupak, JCK's editor-in-chief at the time, said, “Welcome to the jewelry business. It’s not unlike the Hotel California. You can check out any time, but you can never leave.” Eighteen years later, her words ring true.His First ImpressionsMark knew very little about jewelry in the beginning, not having much personal connection to it. He reflects on how much the industry has changed in 18 years. It used to be more male-dominated and traditional, but it's always been warm and welcoming. It was the first time he had to sell advertising directly to business owners.The Evolving Role Of PrintMark compares his time in publishing to selling horse-and-buggies right before the advent of the Model T. There are areas where print still resonates: city magazines, niche books, and catalogs. “Print is not dead, but, boy, did it morph and change," he says.The Shift To Content MarketingThere was a gradual shift from writing stories and articles to writing “content.” When the internet became usable by laypeople, the ability to publish content became more widely accessible to the masses. Victoria ties this shift to what Mark is doing at Jewelers Mutual with the Zing Report. His task was to raise awareness of the Zing marketplace—a hub for the variety of services that Jewelers Mutual offers. Content includes upbeat articles, interviews, and more.Jewelry Sales PredictionsMark hopes the pandemic sales spike will continue. He says that the pandemic reminded a lot of people of the emotional side of jewelry. Will the industry be in a better place than it was pre-pandemic? That remains to be seen.What Can The Industry Do Better?What do we need to overcome in the current economy? The jewelry industry could be more digitally savvy. Retailers should work toward making the in-store and digital experience more seamless. Mark remembers a “Got Milk”–style campaign he worked on with Jewelers of America. It raised awareness of jewelry using the slogan, “Another piece of your story." Then the pandemic came along, it was shelved, and jewelry had such a great two years that it was no longer needed.How The Industry Has ChangedIt has become a younger, broader industry with more diversity and inclusion. The jewelry business is richer when a greater variety of people is included. He ties how energizing that experience of connection can be to Jewelers Mutual’s upcoming retreat, Conversations in Park City, which will feature networking opportunities, meaningful conversations, big ideas, and fun activities.

In This EpisodeYou’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk about secondhand watch prices, the cost of entering the jewelry business, and an early look at a diamond documentary.Show Notes00:30 Victoria talks about the secondhand watch industry and its fluctuating prices.13:24 Victoria questions the economic barriers to getting into the diamond industry.17:53 Rob reviews the new diamond documentary Nothing Lasts Forever.Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com, @jckmagazineShow RecapSecondhand WatchesVictoria comments that it’s a little bit slow in the jewelry industry in July, but it’s a nice break from the busy earlier months. She then dives into the secondhand watch market and the online auction market. The companies she spoke to have seen great success, and there’s been growth in both sales and new buyers. People are flocking to online auctions because of the pandemic, and prices are fluctuating at the moment, so market value isn’t exactly clear. Auctions help determine that market value. Rob asks how the most well-known brands have reacted to this. Victoria said they were definitely watching and hugely discouraged it.The Cost of Entering the Jewelry BusinessVictoria says it’s very expensive to enter the jewelry industry unless you already have family ties or come from a great deal of wealth. To amass the materials and create a jewelry line is an incredible task, and an expensive one at that. There are PR, trade shows, photography, and more that all cost money to get your brand out there. This isn’t to take away from the quality of jewelers’ design capabilities, but it's important to note that all aspects of this business take tremendous amounts of capital. Emili Vesilind wrote about how to get your business started in this JCK Pro article. She posits that it takes a bare minimum of $37,000 to start a jewelry business, which doesn’t encourage diversity in the jewelry industry.Nothing Lasts ForeverRob wrote a review about the new documentary about lab-grown diamonds, Nothing Lasts Forever, airing this fall on Showtime. Rob says it was a beautifully shot film and describes it as an odd experience and hard for him to be objective about, as he knows so many people in the movie. He believes most people will be unhappy with this film, and that it was slanted against the natural diamond industry. Nothing Lasts Forever is scheduled to stream on Showtime in September.